A Sudden Price Drop in The Crypto Markets

[Andrews193]

A sudden price drop in the crypto markets along with the deepening points loss in the dow jones point to a a slow and steady downward trend as of late. Is the bull run of 2021 over? Are these the marks of the beginning of something much worse to come? A major recession, a new crypto winter? What could possibly be next? Any comments and thoughts are more than welcome.

The price drop that occured is definitely correlated to Elon Musk's removing of bitcoin as a mode of payment in Tesla. He has a huge influence to investors considering that he is a billionaire that's why the price of bitcoin was hardly affected by his decision. He is currently supporting dogecoin and no one knows yet what is his plan with it. So far, bitcoin's price has finally recovered and at almost $50k once again. Bitcoin is a strong currency that's why we should never give up on whenever it experiences a struggle, just like what it always does, it will soon recover and exceed more ATH in the future.

Sure, Elon Musk can't shirk responsibility when this is basically a deliberate act, he wants people to adopt a new product in payment and that could be dogecoin and very quickly, we will realize that Elon Musk's absence is sometimes a good thing, someone who causes too much trouble should disappear. Dogecoin should also go down the same path when Elon Musk has put his hand in, this cake won't taste as good as many people think, bitcoin is still better according to the community's opinion.

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[Ultegra134]

this is not the sudden big drop in the crypto market yet. the massive dump is yet to come. we are just seeing a small drop in bitcoin price because of the recent FUD which obviously led to a lot of bloodshed in the altcoin market like it always does.
the biggest dump is going to start when the altcoin pumpers run out of money and start reversing their pumps then you see the real "sudden drops".

I get what you are saying, but I wouldn't call a 13% drop small either though. The sudden crash was a result of Tesla and Musk, stopping Bitcoin payments for purchases, claiming that Bitcoin is hurting the environment due to mining operations. However, I don't see where you are coming from, claiming that a bigger market crash is on the way. Where's the source for that? I can't really understand what you want to say by mentioning that those "pumps" will start reversing when altcoiners run out of money.

[Golftech]

A sudden price drop in the crypto markets along with the deepening points loss in the dow jones point to a a slow and steady downward trend as of late. Is the bull run of 2021 over? Are these the marks of the beginning of something much worse to come? A major recession, a new crypto winter? What could possibly be next? Any comments and thoughts are more than welcome.

The price drop that occured is definitely correlated to Elon Musk's removing of bitcoin as a mode of payment in Tesla. He has a huge influence to investors considering that he is a billionaire that's why the price of bitcoin was hardly affected by his decision. He is currently supporting dogecoin and no one knows yet what is his plan with it. So far, bitcoin's price has finally recovered and at almost $50k once again. Bitcoin is a strong currency that's why we should never give up on whenever it experiences a struggle, just like what it always does, it will soon recover and exceed more ATH in the future.

Sure, Elon Musk can't shirk responsibility when this is basically a deliberate act, he wants people to adopt a new product in payment and that could be dogecoin and very quickly, we will realize that Elon Musk's absence is sometimes a good thing, someone who causes too much trouble should disappear. Dogecoin should also go down the same path when Elon Musk has put his hand in, this cake won't taste as good as many people think, bitcoin is still better according to the community's opinion.

Crypto investors are already wiser than before, it's been an experienced that whatever happened there are always a newcomers

that will provide, bounce is already happening now and we are again seeing good market movemets, after that dip another green

are showing to the whole market. It's not Musk alone but there are many investors around this market they'll not going to let this

manipulations to continue, but they are good riding with it. Be very careful and observant.

[jostorres]

A sudden price drop in the crypto markets along with the deepening points loss in the dow jones point to a a slow and steady downward trend as of late. Is the bull run of 2021 over? Are these the marks of the beginning of something much worse to come? A major recession, a new crypto winter? What could possibly be next? Any comments and thoughts are more than welcome.

I think this happened for a number of reasons but mainly because of the tweet Elon made recently about not accepting Bitcoins. The crypto market is now held strong by a lot of new investors and unlike earlier, now the non-crypto community leaders like Elon do influence our market. Other reasons might be as always a big and strong bull run is always followed by a minor bear run so nothing much to be worried about. Big whales like Elon are playing and a small investor like us as a community should just hold and stay away from trading until the market becomes stable again.

Not sure why suddenly Elon is trying to manipulate the whole market because he first said tesla purchase BTC worth 1 Billion and surely he knew how BTC is mined and then he said Tesla even accepts Bitcoins and then he went ahead and started promoting dogecoin with no real explanation and now he is trying to dump the market, these moves look very fishy, to say the least.

[carlfebz2]

A sudden price drop in the crypto markets along with the deepening points loss in the dow jones point to a a slow and steady downward trend as of late. Is the bull run of 2021 over? Are these the marks of the beginning of something much worse to come? A major recession, a new crypto winter? What could possibly be next? Any comments and thoughts are more than welcome.

Sudden drops arent solid indications that we are already on a bearish market and we cant able to tell it when its already happening and to know that this market is always been like this

on where it can rise or go down without any viable reason for you to look at.This is why you should really be preparing yourself into these kind of circumstances on where
price volatility is really high compared into other markets.

Dont let yourself easily get dragged with your emotion because sudden drops are just normal.Thing here is that the price do eventually recover after that.

[Bitstar_coin]

I think the Elon Musk announced also influence the sell of greatly, btc has witness a tremendous price rise since last year end to this year and if it dip a little I don't see why that should be a problem. But unfortunately some investors don't know about the market situation except to panic sell.

[dezoel]

Just woke up this morning and saw that bitcoin price drop down to around fourty-five thousand.It  is an alarming thing to see a sudden downtrend just because of Elon Musk announcement that Tesla will no longer be accepting Bitcoin because of the effects of mining to the environment.The good news is that we are still in a bull market don't think this news is enough to pull us back into the bear market as prices seems to be rising now.

The reality might be that whales are manipulating the market and the tweets from Elon Musk are nothing but a distraction because people need a reason to assure themselves why the bitcoin is falling down.

What doesn't kill you makes you stronger. Bitcoin is in such a strong position now, thanks to its strong resistance when powerful people tried to destroy it. Elon Musk is not the first billionaire who tried to destroy Bitcoin and he will not be the last one.

But, I don't think he wants to kill bitcoins at all. In my opinion, he is just helping some of the billionaire friends earn huge by making a series of tweets as per their requirements.

Given the state of all that is going on, is it a feasible idea to think that we may see a sub 45k price point for bitcoin?

I don't know why people start to worry and make speculations just after a small drop. I don't even check the price of bitcoins anymore because it only creates chaos and leads me to doubt my own decisions. The best way to avoid being impacted by these drops and rise is that you invest for the long term and don't check the price daily.

[zanezane]

I think the Elon Musk announced also influence the sell of greatly, btc has witness a tremendous price rise since last year end to this year and if it dip a little I don't see why that should be a problem. But unfortunately some investors don't know about the market situation except to panic sell.

The problem is that people are ungrateful as to where bitcoin is now, and they want to get back their capital with a lot of profits as fast as possible so they are mad that the prices go down because they have to wait again. It's good that they panic sell, the market automatically weeds out the undeserving people.

[Alucard1]

I don't think that we are already in the bear market, the sudden drops of the bitcoin is all because of Elon Musk who is playing the market, he announced that Tesla is no longer accepting bitcoin as payment, and by that announcement we have seen a huge impact of it with the market especially with the value of bitcoin. We knows how influential Elon Musk is, so by just posting a tweet he can really do something like this, I am still hoping and believing that Bitcoin will still recover within this month.

[mojun7982]

A sudden price drop in the crypto markets along with the deepening points loss in the dow jones point to a a slow and steady downward trend as of late. Is the bull run of 2021 over? Are these the marks of the beginning of something much worse to come? A major recession, a new crypto winter? What could possibly be next? Any comments and thoughts are more than welcome.

It is too soon to say the bull run is over, the price is too close to the all time high and it has remained at those levels for too long for the current all time high to be the highest point we are going to reach, the market is just gathering strength, now it is going to be more difficult for bitcoin to grow up with all of those altcoins receiving a lot of attention, but eventually enough interest n bitcoin will raise again and we will see bitcoin producing new all time highs in no time at all.

indeed lately Bitcoin price movements tend to be more stable, after rising a few weeks then falling again then experiencing a slight increase again, if making a bullish statement in 2021 is over, of course, the truth cannot be ascertained.  but according to my own personal predictions Bitcoin will make new history again until the end of this year

In terms of percentages it will become more stable with higher prices but it is still volatile. When Bitcoin prices were low it was way more volatile and could quadruple in price or lose 75% easily. That's not going to happen the same way with Bitcoin's price increasing more and more.

[jostorres]

I don't think that we are already in the bear market, the sudden drops of the bitcoin is all because of Elon Musk who is playing the market, he announced that Tesla is no longer accepting bitcoin as payment, and by that announcement we have seen a huge impact of it with the market especially with the value of bitcoin. We knows how influential Elon Musk is, so by just posting a tweet he can really do something like this, I am still hoping and believing that Bitcoin will still recover within this month.

We are definitely not in a bear market. We had a correction which dropped the price, but then we had Elon making excuses for not accepting bitcoin and that's about it, there was nothing to worry about. These things dropped the price a bit but the reality is that we are not going to see anything substantial in the future, we are going to see bitcoin prices going up again.

Remember just in 2021 we had corrections for few times, I think it was about 5-6 times already where the price reached ATH prices and then had a correction and dropped like 20%+ and even more which resulted with price going back up and that is what we have right now. Price dropped and that is a sad thing but we had drops before and each time we went back up again and moved higher, that is what we are going to have once again in the future and that is why I am not worried about a potential of bear market start right now.

[Ultegra134]

I don't think that we are already in the bear market, the sudden drops of the bitcoin is all because of Elon Musk who is playing the market, he announced that Tesla is no longer accepting bitcoin as payment, and by that announcement we have seen a huge impact of it with the market especially with the value of bitcoin. We knows how influential Elon Musk is, so by just posting a tweet he can really do something like this, I am still hoping and believing that Bitcoin will still recover within this month.

We are definitely not in a bear market. We had a correction which dropped the price, but then we had Elon making excuses for not accepting bitcoin and that's about it, there was nothing to worry about. These things dropped the price a bit but the reality is that we are not going to see anything substantial in the future, we are going to see bitcoin prices going up again.

Remember just in 2021 we had corrections for few times, I think it was about 5-6 times already where the price reached ATH prices and then had a correction and dropped like 20%+ and even more which resulted with price going back up and that is what we have right now. Price dropped and that is a sad thing but we had drops before and each time we went back up again and moved higher, that is what we are going to have once again in the future and that is why I am not worried about a potential of bear market start right now.

I don't think there's much to worry about, as you've also mentioned, quite a few corrections had already occurred during 2021. Don't forget the largest of all, during March. Bitcoin had plummeted to approximately $40.000 if I remember correctly. There's no need to panic, it's probably a result of Elon Musk playing monopoly, along with a possible market correction.

[arallmuus]

I don't think that we are already in the bear market, the sudden drops of the bitcoin is all because of Elon Musk who is playing the market

We are not but this might be the trigger to the bear market. Most people are buying with the FOMO hype and those people are probably following Elon's step so as the result of his controversial tweet, most people sold their crypto. We are currently in downtred thanks for that . Bitcoin hit below $47k currently as I post this, I havent really see the price below $47k as $47k should stand for the support level

For some people they'd probably be panicking by now, so yeah we might get to see some sell pressure soon

[Gyfts]

Market volatility is normal and you should be accustomed to it so if you cannot afford a 10% loss then this market is not a suitable place for you.
Everyone says that Elon musk is the reason for this volatility it is the nature of the market and there are several factors that may lead to price fluctuation, and one of them may be that Tesla stops accepting cryptocurrencies.
Relax, it is an opportunity to buy cheaper.

I agree investing isn't for you if you can't handle volatility, but I can understand people's frustration when an eccentric billionaire causes the market to crash. Not really a "may" regarding Musk and his announcement of Tesla and Bitcoin. It flat out sent the markets crashing.  I think it was a clear example of a pump and dump (not like I have any proof), but the only silver lining is that it'll dissipate the Musk cult's formed with him and Tesla (and doge).

[jaysabi]

What doesn't kill you makes you stronger. Bitcoin is in such a strong position now, thanks to its strong resistance when powerful people tried to destroy it. Elon Musk is not the first billionaire who tried to destroy Bitcoin and he will not be the last one. But the earlier ones realized that it is impossible to destroy Bitcoin, since it doesn't exist in the physical form. The decentralized nature of Bitcoin means that you can't destroy Bitcoin by taking down a central server or organization. And now Elon Musk will be taught a lesson which he will never forget in his life.

Why would you think Musk is trying to destroy bitcoin? Because he said something that you didn't like, so you ascribed all your emotionality onto it? Tesla won't accept bitcoin, so clearly this is evidence that Musk is trying to destroy it!

And yeah, the second richest man on the planet is sure about to learn a lesson for not praising bitcoin to the moon, lol.

[Issa56]

Bitcoin price dump few days ago which also affected the price of other altcoins which i believe is caused by the current post by Elon musk that tesla won't longer accept bitcoin which I really believe that they are trying to use Elon musk just to destroy bitcoin price. The post really affect bitcoin price because there was a dump and now bitcoin price is still dropping gradually but I believe with time bitcoin is going to be balance again and other altcoins can also pump.

[Ultegra134]

What doesn't kill you makes you stronger. Bitcoin is in such a strong position now, thanks to its strong resistance when powerful people tried to destroy it. Elon Musk is not the first billionaire who tried to destroy Bitcoin and he will not be the last one. But the earlier ones realized that it is impossible to destroy Bitcoin, since it doesn't exist in the physical form. The decentralized nature of Bitcoin means that you can't destroy Bitcoin by taking down a central server or organization. And now Elon Musk will be taught a lesson which he will never forget in his life.

Why would you think Musk is trying to destroy bitcoin? Because he said something that you didn't like, so you ascribed all your emotionality onto it? Tesla won't accept bitcoin, so clearly this is evidence that Musk is trying to destroy it!

And yeah, the second richest man on the planet is sure about to learn a lesson for not praising bitcoin to the moon, lol.

He is one of the most successful businessmen and entrepreneur currently. He's a genius, he wouldn't want to destroy Bitcoin even if it was actually feasible. Musk is taking advantage of his status, being a person of influence, which can lead to twists and turns in the cryptocurrency market. On top of that, he's probably exploiting Bitcoin's volatility for his own personal gain.

P.S This is my 1000th post!

[2double0]

When I said this, everybody thought I am bearish but I just tried to warn everybody for the correction that was inevitable. It happened, and it happened just in a way I told my friends and also the community here. There are now more probabilities of btc getting dumped by retailers and also check the patience of institutions if they can handle the heat, or this correction will flush out another wave of weak hands and a new, more stronger bull run will begin.

[bengsabeng]

if you have been here since 2017 maybe you already understand this condition. this is a cycle, when ATH has been reached after that there will be a tremendous drop. be prepared because this will happen in the near future !

[mrquackquack]

So Bitcoin is at sub 45,000 usd whats next> Will it maintain its 44-45k range, go higher or drop even further?